Russia, Afghanistan sign agreement to write off Afghan debt

Moscow, August 6 (UNI) Russia and Afghanistan today signed an agreement to write off about 90 per cent of its Soviet-era debt of 11.1 billion dollars.

The remaining amount will be repaid over a period of 23 years.

Russian Finance Minister Alexei Kudrin and the visiting Afghan Finance Minister Anwar-ul-Haq Ahadi signed the agreement.

Kudrin said the Afghan debt would be paid off under the July 2006 agreements reached through the 19-nation Paris Club of creditors.

Ahadi said the remaining debt amounted to 730 million dollars.

The programme has been launched by the International Monetary Fund and the World Bank as a debt relief measure for the poorest nations.

UNI